Toromont Industries (OTCMKTS:TMTNF) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Toromont Industries Ltd. (OTCMKTS:TMTNF) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $117.70 and traded as high as $121.55. Toromont Industries shares last traded at $120.3950, with a volume of 22,017 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TMTNF shares. Royal Bank Of Canada restated an “outperform” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Scotiabank reiterated a “sector perform” rating on shares of Toromont Industries in a research note on Friday, October 17th. National Bankshares restated an “outperform” rating on shares of Toromont Industries in a research note on Monday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a report on Friday, October 31st. Finally, TD Securities reiterated a “buy” rating on shares of Toromont Industries in a research report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy”.

Toromont Industries Stock Performance

The business’s 50-day moving average price is $117.70 and its 200-day moving average price is $108.38.

Toromont Industries Company Profile

Toromont Industries Ltd. is a Canadian diversified industrial equipment and services company. Through its Toromont CAT division, it serves as a major dealer for Caterpillar machinery, offering sales, rentals, parts and service support for a wide range of heavy-duty equipment. Products include earth-moving, paving and compaction machinery, material handling equipment and power generation systems tailored to the needs of construction, mining, forestry, marine and energy sectors.

The company’s CIMCO Refrigeration business provides design-build, installation and maintenance of industrial and commercial refrigeration systems.